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FLORIDA POWER CORPORATION TO REDEEM STOCK TO MEET SINKING FUND REQUIREMENTS

 ST. PETERSBURG, Fla., Oct. 21 /PRNewswire/ -- Florida Power Corporation announced today that on Dec. 10, 1993, it will redeem 25,000 shares of its 7.08 percent series cumulative preferred stock and 100,000 shares of its 7.84 percent series cumulative preferred stock to meet the mandatory sinking fund requirements of these series. In addition, on that date, the company will exercise its option to redeem an additional 25,000 shares of its 7.08 percent series and an additional 100,000 shares of its 7.84 percent series for the sinking fund. The redemption price will be $100 a share for both series plus an amount equal to accrued and unpaid dividends to Dec. 10, 1993, of $.49 a share for the 7.08 percent series and $.54 a share for the 7.84 percent series.
 Florida Power also announced that on Dec. 10, 1993, it will redeem all remaining 100,000 outstanding shares of its 7.84 percent series cumulative preferred stock at the redemption price of $101.96 a share plus an amount equal to accrued and unpaid dividends of $.54 a share.
 The record date for the sinking fund redemptions on the 7.08 percent and 7.84 percent series is Nov. 1, 1993, at which time the transfer agent's books will be closed. The books will be reopened on the 7.08 percent series on Nov. 8, 1993. Funds for the redemption will be available on Dec. 10, 1993.
 Florida Power is the principal subsidiary of St. Petersburg-based Florida Progress Corporation (NYSE: FPC) and serves 1.2 million customers in central and Northern Florida.
 -0- 10/21/93
 /CONTACT: Will Rodgers of Florida Power Corporation, 813-866-4782/
 (FPC)


CO: Florida Power Corporation ST: Florida IN: UTI SU:

JV-SS -- FL019 -- 5367 10/21/93 15:16 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
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